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Global Real Estate Markets Need To Reflect 'Sustainable Business'

Posted on June 30, 2015 at 10:20 AM

Martin Bruhl is starting his Presidency of the Royal Institute of Chartered Surveyors  (RICS) with a bang.

"Our sector needs to unite and ensure sustainability is fully considered across the whole lifecycle. Responsible action needs to become 'business as usual' within global real estate markets" he will say in his inaugural speech today as the first continental European to take on this role.

I can see I will be writing about Mr Bruhl again: his Presidency is to focus on three key themes - sustainable investment and risk management, international standards, and diversity and inclusion.

Martin Bruhl, President RICS

"RICS has an opportunity to lead thinking on the fiduciary duty of fund managers. Managing risk, in a world of historically low interest rates engineered by central banks, is a growing challenge" he says, bringing risk management to the top of the agenda of sustainable business.

Mr Bruhl is Head of Investment Management International at Union Investment Real Estate. He is full of praise for the leading role RICS has taken in a joint initiative with the United National Global Compact (UNGC).

Last week, RICS and the UNGC launched a new resource that targets companies in the land, construction and real estate sector to do business more responsibly.

Identifying some of the most critical issues facing the sector by breaking them down into the three key real estate life cycle phases - development, use and recovery - it proposes the corresponding actions to embed responsible business practices, with the help of illustrations from around the world.

As Sir Mark Moody-Stuart, who has been deeply involved with the creation of the UN Global Compact, said to me in an interview some time ago: "It's about continually trying to raise the bar" for responsible business.

"There is a tremendous opportunity for real estate to become a driving force for a more sustainable financial, economic, social and environmental system, through collaboration and collective action" said George Kell, Executive Director of UNGC.

You can read Mr Bruhl's inaugural speech in London today here.





Categories: Governance, Investors, Diversity